The University of Southampton
University of Southampton Institutional Repository

Financial stability, competitiveness and banks’ innovation capacity: evidence from the Global Financial Crisis

Financial stability, competitiveness and banks’ innovation capacity: evidence from the Global Financial Crisis
Financial stability, competitiveness and banks’ innovation capacity: evidence from the Global Financial Crisis

This paper provides nuanced evidence on the effect of competitiveness and financial stability on banks’ innovation-capacity (technological-change) levels during the Global Financial Crisis (GFC) in 2007–2008. We applied contemporary developments in non-parametric frontier analysis, employing a new index, the Global Financial Centres Index, to measure the business competitiveness of 45 financial centres. Our findings indicated a nonlinear and positive relationship between financial centres’ competitiveness, banks’ stability and innovation-capacity levels. This suggests that banks’ ability to increase stability alongside financial centres’ stability in a highly competitive environment acts as a protective measure against the GFC's negative effects.

Financial centres, Global Financial Crisis, Innovation capacity, Non-parametric frontier analysis
1057-5219
35-46
Degl'Innocenti, Marta
e33b2a74-a534-44a2-ab66-819b156564c3
Grant, Kevin
60a6534f-0093-48bd-8e42-76632ce959d5
Šević, Aleksandar
638d26e5-4906-4617-919c-59e02139c64a
Tzeremes, Nickolaos G.
060d2a05-b6e2-4a3e-aa61-fb0487147f3f
Degl'Innocenti, Marta
e33b2a74-a534-44a2-ab66-819b156564c3
Grant, Kevin
60a6534f-0093-48bd-8e42-76632ce959d5
Šević, Aleksandar
638d26e5-4906-4617-919c-59e02139c64a
Tzeremes, Nickolaos G.
060d2a05-b6e2-4a3e-aa61-fb0487147f3f

Degl'Innocenti, Marta, Grant, Kevin, Šević, Aleksandar and Tzeremes, Nickolaos G. (2018) Financial stability, competitiveness and banks’ innovation capacity: evidence from the Global Financial Crisis. International Review of Financial Analysis, 59, 35-46. (doi:10.1016/j.irfa.2018.07.009).

Record type: Article

Abstract

This paper provides nuanced evidence on the effect of competitiveness and financial stability on banks’ innovation-capacity (technological-change) levels during the Global Financial Crisis (GFC) in 2007–2008. We applied contemporary developments in non-parametric frontier analysis, employing a new index, the Global Financial Centres Index, to measure the business competitiveness of 45 financial centres. Our findings indicated a nonlinear and positive relationship between financial centres’ competitiveness, banks’ stability and innovation-capacity levels. This suggests that banks’ ability to increase stability alongside financial centres’ stability in a highly competitive environment acts as a protective measure against the GFC's negative effects.

Full text not available from this repository.

More information

Accepted/In Press date: 3 July 2018
e-pub ahead of print date: 6 July 2018
Published date: 1 October 2018
Keywords: Financial centres, Global Financial Crisis, Innovation capacity, Non-parametric frontier analysis

Identifiers

Local EPrints ID: 422433
URI: http://eprints.soton.ac.uk/id/eprint/422433
ISSN: 1057-5219
PURE UUID: e8a4b710-1f0e-4ee6-9360-ea7754215ebb

Catalogue record

Date deposited: 24 Jul 2018 16:30
Last modified: 07 Oct 2020 00:28

Export record

Altmetrics

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×